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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 08:15 EDT
Deutsche Bank analyst Tiffany Kanaga raised the firm's price target on L Brands to $29 from $24 and keeps a Buy rating on the shares. The analyst says her "so bad, it's good" thesis is playing out largely as anticipated after L Brands sold a majority interest in Victoria's Secret to Sycamore Partners. New Bath & Body Works CEO Andrew Meslow is well positioned to lead the business to "continued and uncommon" success in the mall, Kanaga tells investors in a research note. The analyst's sensitivity analysis demonstrates upside to shares into the mid-$30 range through extended double-digit growth trends.
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